Lincoln Electric Completes Purchase of the Controlling Stake in Askaynak

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02 July 2019

Lincoln Electric Completes Purchase of the Controlling Stake in Askaynak

Advances Regional Growth Strategy
CLEVELAND,  July 01, 2019  (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc., (the “Company”) (Nasdaq: LECO) announced today it has completed the purchase of the controlling stake of Kaynak Teknigi Sanayi ve Ticaret A.S. (“Askaynak”) to advance Lincoln Electric’s regional growth strategy in Europe, the  Middle East and Africa .

“We are pleased to welcome the Askaynak team into Lincoln Electric ,” stated Christopher L. Mapes, Chairman, President and Chief Executive Officer of Lincoln Electric. “Askaynak strengthens our position in the region and as one team; we will serve our customers with innovative solutions, superior service, and deliver operational excellence.”

As previously disc